AI-Generated Summary
Context and Overview
The resource titled "S in ESG: Assessment of Social Sustainability in Real Estate - Critical Analysis of Social Taxonomy and Limitations of Certification Systems" focuses on the social dimension of sustainability within the real estate sector. It is authored by Dipl.-Ing. Marianne Sar and supervised by Mag. Alexander Bosak, MRICS. This master's thesis critically analyzes how social sustainability is assessed in real estate, addressing the gaps in the current certification systems and social taxonomy frameworks.
Key Findings
The discourse on sustainability in real estate has predominantly emphasized ecological factors such as energy efficiency and environmental protection. However, the social aspect is gaining traction, highlighting the challenges companies face in integrating social dimensions into their sustainability strategies. There is a notable discrepancy between the theoretical acknowledgment of the 'S' in ESG (Environmental, Social, Governance) and its practical implementation in real estate projects and strategies.
Importance of Social Taxonomy
The analysis emphasizes the necessity to untangle the complexities surrounding social sustainability in real estate. It suggests that buildings should not only be environmentally sustainable but also designed to generate social value, which includes promoting community engagement and accessibility. The study explores the social taxonomy as a systematic tool for collecting social sustainability criteria and discusses its main and sub-objectives.
Certification Systems Review
The research provides a critical review of the ÖGNI certification system in Austria, evaluating its capability to comprehensively capture and assess social sustainability criteria. The findings reveal limitations in aligning the theoretical framework of social taxonomy with the practical application of the ÖGNI system. To address these gaps, the study identifies additional social criteria that enable a more nuanced evaluation of social sustainability in buildings.
Development of a Criteria Catalog
The thesis culminates in the development of a criteria catalog that fully encompasses the social criteria of the taxonomy system for real estate. It presents measurable indicators within a scoring model termed the "Score Card," offering a practical approach to evaluating the social sustainability of buildings. This model aims to generate significant value for companies by enhancing transparency and providing actionable insights for optimizing their properties.
Sustainable Urban Development
The research underscores the importance of creating living and working spaces that are not only environmentally friendly but also socially beneficial. It highlights the need for local architecture considerations and community participation in planning processes, which are essential for fostering social cohesion and well-being.
Resource Availability
The full thesis, accessible via a dedicated PDF link, serves as a comprehensive guide for understanding the integration of social sustainability in the real estate sector. It provides valuable insights for stakeholders interested in sustainable housing across Europe, particularly in navigating the evolving landscape of social taxonomy and certification systems.